Tron, the crypto platform founded by billionaire Justin Sun, is set to go public in the US via a reverse merger with Nasdaq-listed SRM Entertainment.
The deal, arranged by Dominari Securities, a firm with links to Donald Trump Jr and Eric Trump, will create a new entity, Tron Inc.
It plans to hold large reserves of the Tron token, mirroring MicroStrategy’s bitcoin-centric strategy.
Tron will inject up to $210 million in token assets into the venture. According to reports in the US, Eric Trump is expected to take a role at the company.
The platform recently issued its first stablecoins on the Tron blockchain.
The planned IPO follows the US Securities and Exchange Commission's decision earlier this year to pause fraud charges against Sun and his companies, including Tron, amid talks for a potential settlement.
The regulatory thaw coincides with President Trump’s push for looser crypto oversight.
Shares in SRM Entertainment surged 280% following the announcement. Sun, long known for headline-grabbing stunts, remains one of the sector’s most controversial figures.